PANews reported on October 29 that the cryptocurrency exchange Gemini announced that it had obtained preliminary approval for the "Major Payment Institution" (MPI) license issued by the Monetary Authority of Singapore (MAS), and will be able to provide cross-border transfers and digital payment token services in Singapore.

Since establishing its Asia Pacific headquarters in Singapore, Gemini has continued to expand its local business and strengthen its team, including the recent appointment of Saad Ahmed, Head of Asia Pacific. Gemini plans to continue to expand its Singapore team and attract more high-end talents to support its compliance and development in the Asia Pacific region.